Right, time for the hard lesson Kazie, if I loose you anywhere, just let me know.
First. Packets. Picture cables as pipes with invisible items in them. These items come in sizes, 1, 32, 128, 512, 2048. Now sometimes you'll get ones that are partially filled, but those will still blow up machines and wires as if they are full size. If a 512 size packet goes in to a transformer, it'll be turned into 4 packets of 128. That 128 then hits the 2nd transformer and it'll become packets of 32. If you see an electrical engine that needs 34EU, it'll take a packet of 128, use what it needs and store the rest, then request more when it needs it again. If the wires can't handle 128 they explode.
Second, power loss over distance. This will deplete the contents of a packet, until it's down to 0, but these packets will still act like they are the original size, this means you can't make a 128 packet into a 127 packet to use with an advance machine that has a limit of 127. Think of them as boxes, as they go down the cable somebody reaches in and takes a handful of eu out of the inside and sends it on. If the box is HUGE, say 512, it will do damage as it goes down the line. As it takes per packet, you need to keep things running in as few packets over as little distance as possible.
Third, EU/T. You'll see that as generation and costs. When it generates it makes all those packets, lots of small packets that very quickly burn out in cables. Tin is very useful for this as there is no loss until 40 length is used, the downside is that it can't handle more then 5 eu in any given packet. So it handles basic solar, it handles waterwheels, it handles the most windmills can turn out and lets the packets get pretty far before you stack them together in a batbox that then starts to make neat packages of 32 for copper cable. On the receiving side most EU using objects have internal storage. They will take a packet, up to the max size packet (they will take in a box, and move the contents to storage) and then deplete this internal battery by as many EU per Tick as it needs to run. There's 20 ticks to a second on a properly running server, a lagged server will give you less. As an example the electric furnace requires 390 EU for a smelt, it consumes this at a rate of 3 eu/t, that's 120 ticks, that's 6 seconds per smelt.
Packets are the hard mechanic to understand, and they are hidden from sight, I hope I've cast some light on it.